JAMES DONDERO, CFA
James Dondero is Co-founder and President of Highland Capital Management, L.P. Mr. Dondero has over 30 years of experience in the credit and equity markets, focused largely on high-yield and distressed investing. Under Mr. Dondero’s leadership, Highland has been a pioneer in both developing the collateralized loan obligation (CLO) market and advancing credit-oriented solutions for institutional and retail investors worldwide. Highland’s product offerings include institutional separate accounts, CLOs, hedge funds, private equity funds, mutual funds, REITs, and ETFs. Mr. Dondero is the Chairman and President of NexPoint Residential Trust, Inc. (NYSE:NXRT), is Chairman of NexBank Capital, Inc., Cornerstone Healthcare Group Holding, Inc., and CCS Medical, Inc., and a board member of Jernigan Capital, Inc. (NYSE:JCAP), and MGM Holdings, Inc. He also serves on the Southern Methodist University Cox School of Business Executive Board. A dedicated philanthropist, Mr. Dondero actively supports initiatives in education, veterans affairs, and public policy. Prior to founding Highland in 1993, Mr. Dondero was involved in creating the GIC subsidiary of Protective Life, where as Chief Investment Officer he helped take the company from inception to over $2 billion between 1989 and 1993. Between 1985 and 1989, Mr. Dondero was a corporate bond analyst and then portfolio manager at American Express. Mr. Dondero began his career in 1984 as an analyst in the JP Morgan training program. Mr. Dondero graduated from the University of Virginia where he earned highest honors (Beta Gamma Sigma, Beta Alpha Psi) from the McIntire School of Commerce with dual majors in accounting and finance. He has received certification as Certified Public Accountant (CPA) and Certified Managerial Accountant (CMA) and has earned the right to use the Chartered Financial Analyst (CFA) designation.
Chief Market Strategist
Mike Hurley is Chief Market Strategist for Highland Capital Management Fund Advisors, L.P. and a Co-Portfolio Manager for the Highland Premier Growth Fund. He joined the firm in 2011 as a sub-advisor to the Highland Trend Following Fund, and prior to that served as a Portfolio Manager with Fusion Asset Management, LLC, where he managed the Fusion Global Long/Short Fund (FGLSX) from its inception in September 2007 to November 2008. That fund posted a positive return in 2008 and won the Lipper Performance Achieve Award in the Long/Short category (ranked #1 of 90). Prior to launching FGLSX he served as Chief Technical Strategist for several boutique research firms, including: M.S. Howells & Co., Sound View Technology Group and E*Offering (The Investment Bank of E*TRADE). From 1986 to 1994 he served as a commissioned officer in the United States Navy, where he flew over 50 combat missions during Operation Desert Storm, earning two Air Medals. Mr. Hurley is a graduate of the University of California, Santa Barbara where he received B.A. degrees in both Business Economics and Chemistry. He is Series 7, 63 & 65 licensed and is a Chartered Market Technician (CMT).
Effective July 16, 2019, the Highland Premier Growth Equity Fund is named the Highland Socially Responsible Equity Fund.
The Socially Responsible Equity Fund seeks long-term growth by investing in the equities of 30 to 40 large and medium-sized companies in which there is high conviction in those companies potential to generate above-average growth.
Access to Institutionally Managed Growth Equity Platform
- Invests primarily in large and medium-sized companies with above-average growth histories and/or growth potential
- Portfolio represents best 30-40 growth equity investments
- Bottom-up stock selection with long-term investment horizon
- Focused portfolio of high-quality large and midcap stocks
- Sector allocation is a function of both bottom’s up and top-down analysis: benchmark awareness, not dependence
|Fund NAV (As of Dec 06, 2019)|
|HPEAX (Class A)||$15.48|
|HPECX (Class C)||$7.08|
|HPEYX (Class Y)||$17.16|
|Fund AUM (As of Dec 06, 2019)|
|Total Net Assets||$82.25 M|
|VIEW FULL PERFORMANCE|
|Class A||Class C||Class Y|
|Gross Expense Ratio||1.30%||2.06%||1.05%|
|Net Expense Ratio1||1.30%||2.06%||1.05%|
Historical Returns & NAV
|As of 12/06/2019||Class A||Class C||Class Y|
|Net Asset Value (NAV)||$15.48||$7.08||$17.16|
|Daily NAV Change ($)||$0.13||$0.06||$0.15|
|Daily NAV Change (%)||0.85%||0.86%||0.88%|
|As of 11/30/2019 MonthlyQuarterly||Class A||Class A (w/sales charge)||Class C||Class C (w/sales charge)||Class Y|
The performance data quoted here represents past performance and is no guarantee of future results. Investment returns and principal value will fluctuate so that an investor’s shares when redeemed may be worth more or less than their original cost. Current performance may be lower or higher than performance data quoted.
Please consider the investment objectives, risks, charges and expenses of Highland Funds carefully before investing. A prospectus with this and other information about Highland's mutual funds can be found on the Literature tab above. You may also obtain a prospectus for our mutual funds by calling 877-665-1287. Please read the prospectus carefully before investing.
1. No waivers or reimbursements have been set by the adviser.
*The maximum sales charge for Class A shares is 5.75%.
Securities Market Risk. The value of the securities may go up or down, sometimes rapidly or unpredictably, due to factors affecting particular companies or the securities market generally. A general downturn in the securities market may cause multiple asset classes to decline in value simultaneously, although equity securities generally have greater price volatility than fixed income securities.
Small-Cap Company Risk. The risk that investing in the securities of small-cap companies may pose a greater market and liquidity risks than larger, more established companies, because of limited product lines and/or operating history, limited financial resources, limited trading markets, and the potential lack of management depth. In addition, the securities of such companies are typically more volatile than securities of larger capitalization companies.
Allocation Risk. The risk that Highland may not allocate assets of the Fund among investment management styles in an optimal manner, if among other reasons, it does not correctly assess the attractiveness of an investment style.
Foreign Investment Risk. The risk that investing in foreign (non-U.S.) securities may result in the Fund experiencing more rapid and extreme changes in value than a fund that invests exclusively in securities of U.S. companies, due to smaller markets, differing reporting, accounting and auditing standards, nationalization, expropriation or confiscatory taxation, currency blockages and political changes of diplomatic developments. The cost of investing in many foreign markets are higher than the U.S. and investments may be less liquid.
Currency Risk. The risk that the values of foreign investments may be affected by changes in the currency rates or exchange control regulations. If a foreign currency weakens against the U.S. dollar, the value of a foreign investment denominated in that currency would also decline in dollar terms.
Credit Risk. The risk that the Fund could lose money if the issuer or guarantor of a fixed income security, or the counterparty of a derivatives contract or repurchase agreement, is unable or unwilling (or is perceived to be unable or unwilling) to make a timely payment of principal and/or interest, or to otherwise honor its obligations.
Interest Rate Risk. The risk that fixed income securities will decline in value because of changes in interest rates. A fund with a longer average portfolio duration will be more sensitive to changes in interest rates than a fund with a shorter average portfolio duration.
Derivatives Risk. The risk that an investment in derivatives may not correlate completely to the performance of underlying securities and may be volatile, and may result in a loss greater than the principal amount invested. Equity derivatives may also be subject to liquidity risk as well as the risk the derivative may be different than what would be produced through the use of another methodology or if it had been priced using market quotations.
Socially Responsible Investment/ESG Risk. The risk that, because the Fund invests primarily in companies which are constituents of social indices or are included in the Corporate Responsibility Magazine’s List of 100 Best Corporate Citizens and excludes securities of certain issuers for non-investment reasons, the Fund may underperform the broader equity market or other funds that do not utilize socially responsible, ESG, or sustainability criteria when selecting investments.
Value Investing Risk. The risk of investing in undervalued stocks that may not realize their perceived value for extended periods of time or may never realize their perceived value. Value stocks may respond differently to market and other developments than other types of stocks. Value-oriented funds will typically underperform when growth investing is in favor.
Source: State Street Bank and Trust Company
Highland Funds’ mutual funds are distributed by NexPoint Securities, Inc., Member FINRA/SIPC